Home / Knowledge / News / Textiles / Govt offers Tk 10 bn cash incentives to exporters
Govt offers Tk 10 bn cash incentives to exporters
10
Aug '10
As revealed by officials, cash incentives worth Tk 10 billion have been released by the government for distributing the same amongst leading exporters, as a first form of instalment for the present financial year.

Central Bank, towards the end of last month, was directed by the Finance Ministry via a letter to pay the cash incentives to the exporters.

Around Tk 1.50 billion will be given to jute exporters, whereas the remaining Tk 8.50 billion will be distributed to other segments such as home-made textiles, leather goods, handicrafts and other sectors.

Finance Minister, AMA Muhith, in the recent financial budget, has made an announcement that, sectors affected by recession will receive a stimulus package of Tk 20 billion.

Also, the government has announced to pay cash incentives to major exporters, so as to help them maintain their competitive edge in the global markets.

Moreover, cash subsidy at the rate of 5 percent for domestically produced textiles and 17.5 percent for jute products, also forms part of government incentives.

In spite of apprehensions by leading exporters and mutual agencies that, shipments would be affected by worldwide recession, government for this financial year has set an ambitious export target of $17.8 billion.

The aforesaid target would require a steep 14 percent or over $2 billion increment in shipment from the exports of $16.2 billion, which was witnessed in 2009-10 fiscal.

Fibre2Fashion News Desk - India

Must ReadView All

Fashion | On 20th Feb 2017

South Korea’s fashion industry to grow 3.3% in 2017

The South Korean fashion industry is expected to grow by 3.3 per cent ...

Textiles | On 20th Feb 2017

Brazilian cotton prices oscillate in first week of Feb

In the first fortnight of February 2017, Brazilian cotton prices...

Apparel/Garments | On 20th Feb 2017

Kate Spade & Company Q4 net sales climb 9.8%

For the three months ended December 31, 2016, net sales at apparel...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search